Z3-29, 1989 MICHIGAN CI'l1ZEN
19
Finances/Money
steps
By J ad Robert tions tend to multiply strengths. . because the single greatest
N. Taylor If you are not sure how to go obstacle to most people achiev-
In order to make your life a about. getting more positive, , ing financial success is "proaas
more financiaIJy rewarding one, �ss-oriented people into tination" - the failure to take
we have compiled the following life, write us. We provide a action, Further, you should al-
"Sucee Steps." We promise guide on how to locate and ys remember the line from a
you that if these steps are fol- an association with such popular movie: "As we get older
lowed you will find yourself a p -time money-making ac- and look back over our lives,
happier, more emotinally-ful- tivities: Scucess News Newslet- what we tend to regret most are
filled and wealthier person in ter. This information is yours not the things we did but the
the year ahead simply by writting Law- Tay, things we didn't do." It is the op-
- DEVELOP A POS� Inc., P.O. Box 54041, portunity not taken that will
EN'l1IUSIASTIC APPROACH Washington, D.C. 20032. The cause us the greatest regret A
TO LIFE.. Your attitude is your key point here is that one of your mistake can virtually always be
most important tool in the strug- 1989 goals must be to identify an corrected but 'a missed oppor
gl to build a happy, financiaIJy additional source of income. . tunity is often gone forever.
rewarding life. Your attitude - SAVE 1()t1, OF EVERY- Again, DOSOMETHINQ!
must be one of expecting tosuc- THING YOU EAltN BY - STRUCTURE YOUR
eeed and your enthusiasm must ADOPTING THE FOLLOW- TIME AND· ACTIONS 'IN
propel you to take actions which ING PRAcnCE: PAY YOUR- ORDER TO BENEFIT FROM
will make that expectation a SELF FlRST. There is no other THE PAST, ENJOY THE
reality. Remember this; You way for the average person to PRESENT AND PREPARE
tend to g ut of life whatever save on a consistent basis. And FOR THE FUnJRE. Remem-
tYou will a pt. If you accept the in order for any savings plan to ber, you can neither'live in the
avtrage and the ordinary, that's be meaningful, it must be done past nor the future. You can
what you tend to get. A positive on a consistent basis. Note, we only live one day at a time.
attitude and enthusiastic ac- . have not yet raised the issue of Ho ver, you must use part of
tions will ge you tever you setting financial goals. The th present to learn from the
want reason is simple: Regardless of p t and to prepare for the fu-
- ASSOCIATE WITH your financial goals you should ture. As a rule of thumb, we
BRIGHT, SUCCESS- be consistently Saving 10% of make the following recqmmen
ORIENTED PEOPLE. Too every dqllar you receive from dation: You should spend (I)%
many of us spend our lives lock- your job or business. of your current time and actions
ed in draining relationships in - DO SOMETHING. •• working in and enjoying the
ich we constantly give more EVEN I F YOU ARE �OT present; 25% preparing for the
than we receive. Overtime, such SURE IT'S THE RIGHT future and 15% learning from
relationships take their toll by THINGWOO. This is obvious- the past
. robbmgus of our creative cner- Iy 0 t most controvers'ial
gies. ext to a positive attitude, recommendation. Of course,
associating with other success- you should carefully consider
oriented people is the most im- your actions to make sure you
portant step you can take are dbing the right thing.
toward fmanciaI freedom and However, there must always
happiness in 1989. Five success- come a time when "thinking,
oriented people are worth 2S or- about it" must end and action
dinarj- people. Such associa- must begin. We give this advice
Investment dvice for the
,
se -emp oyedperso
Q. I reee tly tarted y own
b si e in y ho. at
Ii aI servica 0 d I
iato? J. Wuliams, Louisville, KY.
A. It is good that you are con
cerned about this phase of your
business. I would make these
suggestions, 6 st, open a money
mar fund for ur business'
excess cash. The money market
. fund wiD give you immediate ac
cess to your money and pay cur
rent market interest rates
(8.75% to 9%). Secondly, inves
tigate health insurance and dis
ability insurance, Now that you
are your own. boss it is your
responsibility to provide these
benefits. Lastly, inquire about
retirement planning. An IRA
.- SET CLEAR, SPECIFIC
GOALS WITH DEADLINES.
These goals and deadlines for
accomplishing them will give all
your actions direction and pur
pose.
would provide you with a tax
deduction 0 aU contributions
and solid retirement savings for
the future. When your business
progresses further a 401 (K) or
corporate pensi n plan will be
your next step. It is advisable to
keep things simple at the tart of
your business. operations.
Q. I ru a not-(or-proDt
orgnaizatio . CaD my OI'J m
lion·u a money markd fUDd?
G. Manky, Detroit, ML
A. Yes, tax-exempt organiza
tions (non-profit organizations)
can use money markets for their
cash management. This will
allow your money to obtain
market interest rates (8.5% to
9.250/00 as weD as having ready
access (check and wire redemp
tion features) for convenience.
joseph D. Phoenix; Jr. is a
registered presentative with the
investment firm of Phoenix and
Associates. 3121842-3067, P.O.
Box 496-442, Chicago, Illinois
60649. .
Gladys ht Laun _ UDe�or Hair Care PrOducts:
&B Super-star G1:= Knight is trying her hand in busi
with the laun . this month of Knight Nutritional
air Care S plements. Thus far, the new venture is com
ised of 17 hair products,' inc1� shampoo, curl ac
. tor, aild styling gel A skin-care' and makeup line are
t to come. Said Knight's 27-year old daughter Kenya,
o handles much of her business, the all-natural base line
is "not geared toward the black hair, but we did have the
b clc hair in mind when we formulated the product. We
Use it." Ironically enough manufacturing for the product
is done in Canada (Toronto wbile the main distributor is
b in Las Vegas, where . t makes her home, Ac-
rding to her daughter, ight has always dreamed of
ing her own hair care line, and is aC\Ually a licensed cos-
tologist . j ) I
Bla Woma Sues Calirornia Lottery And Hi The
J pot: A California black woman, Doris Barnett, was
� <Jed $3 million in her suit against the California Lot-·
te Commission. The 54-yur old nurse filed a lawsuit in
Angeles Superior Court three years ago, when a $3 mil
lion ·Big Spin" . was denied her after her prize landed
in the $3-millio slot, but seconds after being declared a
�er, the ball pped out and into a $10,000 slot. All this ..
ha�pened in a t levised ceremony. Sh refused to cash the
$1 ,000 check t ,at was mailed to her ctime late!'. In
st d, she flied uit Lottery officials argued that it was the
_ announcer who made a mistake in announcing her a win
ner before the datory five-second waiting period was
u�_Nonethele , at the time ftllis printing state lottery of-
6"r.1s had not cided whetlier or not they would challenge
the jury's verdi with an appeal. The California woman
also awar d S4OO,OOO in damages.
GMt BI plo)ftS k For Redraft or $3 MllUo
Se ement: lling themselves the "Concerned Black
Salaried Emp yees", a group representing several
hundred salarie black wo ers at General Motors, has
Sai�they will fiI a petition opposing a $3 million settle
me t of their a ative acti n lawsuit. Calling the terms
of e agree-me t "evasive" d not relative to their con
cerrs, the grou is oping a ederal urt judge will grant
the� petition f a redrafting of the original settlement
General Motors is standing y the settlement, statinglthat
it gives them the nee to "r dress some j>crceived inequi-
ties and at the sa time stre gthens GM's existing systems
plo k For Redraft or 3 MiUio
ing themselves the "Concerned Black
yees", a g oup representing everal
black workers at General ors, has
a petition opposing iiiillion settI�-
ment of their ative acti n lawsuit. Calling the terms
of the agree-me t "evasive" d not relative to their con
ce , the group hoping a f eral court judge will grant
their petition f a redr . of the original settlement
General Motors standing � the settlement, stating that
it g:t them the ance to "redresS some perceived inequi
ties d at the sa time strengtliens G�s existing systems
to ure all recei equitable treatment." A hearing on the I
matter is �t to set �
eight Loss? Wel� former comedian
Dick Gregory charges $1,000 per week
us weight loss program. The program,
en by Gregory, is available at the
e purchased in florida's gulf-coast for
liars last fa I. Meanwhile, Gregorys's
Slim afe Baba- liq .. id diet formula reported sales of
abou $2:; million] 1988.
usi Brie: The nation's first talking black doll hit
the ail-order ketplace last month: The Shining Star
Doll which was create\! by Vousette Miller of Fort
Washington, MD, stands 25 inches tall and comes with
reco ded message that recite poetry as. well as historical
profi es of eight p minen black women., ext �eek: A
black sculptor ba, les in the Supre�e Court-over rights to
life-s d sculptur of homeless family.
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